TALF Bailout Program Repaid in Full, U.S. Treasury SaysIan Katz
The U.S. Treasury Department said the Term Asset-Backed Securities Loan Facility, or TALF, had been repaid in full.
Interest and other gains above principal repayments from the program total $173 million, the Treasury said in a statement today. Under TALF, a bailout program that started operating in March 2009, the Federal Reserve lent funds to investors in highly rated asset-backed securities and commercial mortgage-backed securities.
TALF supported the origination of almost 3 million auto loans, more than 1 million student loans and about 900,000 loans to small businesses, the Treasury said.
Accumulated fees collected through TALF total $856 million, exceeding the total principal amount of TALF loans outstanding, $556 million, according to the Treasury.